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L1 Gold Fund Limited (ASX:LGF)

ALERT: Price-sensitive ASX Announcement for LGF
Current share price for LGF : $2.250 -0.16 (-6.64%)+
Announcement
Release
26 Aug 2026 10:10AM
Price at Release
$2.410
Full Release
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Summary
L1 Gold Fund Limited has announced the successful completion of its institutional placement, institutional entitlement offer, and shortfall offer, raising approximately A$254.9 million. This venture included A$160.3 million from the placement, A$52.5 million from the institutional entitlement offer, and A$42.0 million from the shortfall offer, with the offer price set at A$2.25 per new share. The new shares are set to settle on 1 September 2026 and commence trading on 3 September 2026. The retail entitlement offer, expected to raise an additional A$261.7 million, will open on 31 August 2026. The founders of the investment manager, L1 Capital Pty Ltd, Mark Landau and Raphael Lamm, fully participated in the offer, reinforcing their commitment to the company's direction and the gold investment market.
Key Points
  • L1 Gold Fund Limited raised approximately A$254.9 million in total.
  • The placement raised A$160.3 million, institutional entitlement offer A$52.5 million, and shortfall offer A$42.0 million.
  • New shares are priced at A$2.25, equivalent to the pre-tax net tangible asset value per share as of 20 August 2026.
  • New shares will settle on 1 September 2026 and begin trading on 3 September 2026.
  • Retail entitlement offer aims to raise A$261.7 million, opening on 31 August 2026.
  • Mark Landau and Raphael Lamm took full entitlements, indicating strong confidence in the company's strategy.
  • The retail entitlement offer is open to eligible shareholders in Australia and New Zealand.
  • Joint lead managers were appointed for the offer but it is not underwritten.
  • The company's shares will resume trading on an ex-entitlement basis after a trading halt.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.